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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInBernie Madoff Says He’s Dying and Seeks Early Prison Release – The New York Times
Bernard L. Madoff, the mastermind of the largest Ponzi scheme in history, said in a court filing on Wednesday that he was dying and asked for an early release from prison. Mr. Madoff, 81, has less than 18 months to live after entering the final stages of kidney disease, the filing said. via Bernie Madoff […]
No Movie Could Capture the Crazy Details of Bernie Madoff’s Story – The Atlantic
But the specifics of Madoff’s fraud highlight how the portrayal of a coldly conducted business crime on television or film can result in a narrative that obscures, in Madoff’s case, what allowed his misdeeds to go undetected for so long. What the HBO film and ABC TV show fail to fully capture is Madoff’s painstakingly […]
Kochs and Other Madoff Investors Are Winners in Fight Over Profits Held Abroad – The New York Times
The company led by the American billionaire Koch brothers, along with dozens of banks and fund managers, kept billions of dollars in profit from Bernard L. Madoff’s Ponzi scheme in accounts offshore. As it turns out, that was a good decision. Koch Industries and others who invested in the Madoff fund from offshore accounts won […]
U.S. judge orders deposition of Bernard Madoff | Reuters
Bernard Madoff must submit to a deposition by lawyers for some former customers who lost money when the imprisoned swindler’s firm collapsed in December 2008, a judge ordered on Friday. U.S. Bankruptcy Judge Stuart Bernstein in Manhattan set strict limits on what Madoff can be asked. via U.S. judge orders deposition of Bernard Madoff | […]
‘You Know What’s Cool? A Billion Dollars,’ Part III | Compliance Week
Yes, the Madoff trustee’s legal and professional fees have passed the $1 billion mark, but with the release today of more good news for Madoff victims, the trustee says that this $1 billion (and counting!) is a “very good return on an investment.” via ‘You Know What’s Cool? A Billion Dollars,’ Part III | Compliance […]
Supreme Court won’t hear clawback case in blow to Madoff trustee | New York Post
Hundreds of Bernie Madoff victims no longer face the threat of having their withdrawals from the Ponzi schemer’s accounts clawed back, under a Supreme Court ruling on Monday. The high court let stand an earlier ruling by a New York appeals court that limited the clawbacks to two years prior to when the giant fraud […]
Madoff IT Guys Wrote Code to Trick Auditors, Jury Told – Bloomberg
Bernard Madoff’s former computer programmers created a web of simple equations to make thousands of fake transaction numbers, dates and time stamps appear realistic on documents used to trick auditors, a jury was told in the trial of five of the con man’s former top aides. via Madoff IT Guys Wrote Code to Trick Auditors, […]
Federal judge overseeing Madoff liquidation dies — Reuters
The federal bankruptcy judge presiding over the liquidation of assets related to Bernard Madoff’s epic Ponzi scheme has died, a clerk to the U.S. Bankruptcy Court in New York said on Monday. U.S. Bankruptcy Judge Burton Lifland, 84, died on Sunday, according to the clerk, Vito Genna. Genna said he did not know the cause […]
What the JPMorgan Settlement Means – NYTimes.com
In the end, JPMorgan decided that paying more than $2 billion was better than trying to fight claims that it aided the biggest Ponzi scheme in history. The winners in the settlements are Mr. Madoff’s victims, who will never be made whole but are at least a step closer to receiving a measure of compensation, […]
Documentary Promises ‘New and Shocking’ Look at Madoff Scandal
New documentary tells the Madoff scandal story from the point of view of his long-time personal secretary.